Routes and Fees

Review our routes and fees for DAS Trader.

Most Popular

RouteAddingTakingDescriptionTime of Operation (ET)
ARCAS0.002-0.0032Smart router. Posts on ARCA. No rebate for stocks <$1.004:00AM - 8:00PM
FAN0.002-0.0032Virtu Smart router. Aggressively seeks execution when taking liquidity4:00AM - 8:00PM
NSDQS0.002-0.0032Smart router. Posts on Nasdaq. No rebate for stocks <$1.004:00AM - 8:00PM
EDGX0.002-0.0032EDGX Smart router9:30AM - 4:00PM
XALL-0.0032-0.0032Aggressive Smart router sweeps dark and lit destinations, execution over cost4:00AM - 8:00PM
XDAG-0.0025-0.0025Most aggressive dark aggregator route. Sweeps major dark pool destinations9:30AM - 4:00PM
CLST-0.002-0.002Market maker route for OTCBB's9:30AM - 4:00PM

Market Makers

RouteAddingTakingDescriptionTime of Operation (ET)
MARKET (CPGO)-0.002-0.002Default Smart Router used for Market Orders9:30AM - 5:00PM
LIMIT (CPGO)-0.002-0.002Default Smart Router used for Limit Orders7:00AM - 5:00PM
CPMM-0.0015-0.0015Market maker wheel route9:30AM - 4:00PM
XDRK-0.002-0.002Market maker wheel route9:30AM - 4:00PM
HEAT-0.002-0.002Market maker wheel route9:30AM - 4:00PM

Smart Routers

RouteAddingTakingDescriptionTime of Operation (ET)
ARCS0.002-0.0032Smart router. Posts on ARCA. No rebate for stocks <$1.004:00AM - 8:00PM
ARCAS0.002-0.0032Smart router. Posts on ARCA. No rebate for stocks <$1.004:00AM - 8:00PM
EDGA-0.0032-0.0032EDGA Smart router9:30AM - 4:00PM
EDGX0.002-0.0032EDGX Smart router9:30AM - 4:00PM
FAN0.002-0.0032Virtu Smart router. Aggressively seeks execution when taking liquidity4:00AM - 8:00PM
MARKT-0.0032-0.0032Smart router used for market orders9:30AM - 4:00PM
NITEP-0.0025-0.0025Virtu passive algo smart router9:30AM - 4:00PM
XALL-0.0032-0.0032Aggressive Smart router sweeps dark and lit destinations, execution over cost4:00AM - 8:00PM
CFAN0.002-0.0028Aggressive Smart order router. Aggressively seeks execution when taking liquidity7:00AM - 5:00PM
NSDQS0.002-0.0032Smart router. Posts on Nasdaq. No rebate for stocks <$1.004:00AM - 8:00PM
AGGS-0.0032-0.0032Aggressive Smart router sweeps dark and lit destinations, execution over cost4:00AM - 8:00PM

Specialized

RouteAddingTakingDescriptionTime of Operation (ET)
PMID-0.0025-0.0025Mid-point route9:30AM - 4:00PM
PIOC-0.001-0.001Immediate or cancel route. Best for marketable orders of very liquid stocks9:30AM - 4:00PM
PDRK-0.0025-0.0025Dark pool route. Seeks alternative liquidity other than lit venues9:30AM - 4:00PM
PSMT-0.0024-0.0024Aggressive route. Good for taking liquidity at lower rate9:30AM - 4:00PM
XDAG-0.0025-0.0025Most aggressive dark aggregator route. Sweeps major dark pool destinations9:30AM - 4:00PM
XMID-0.0025-0.0025Dark aggregator that sweeps major dark destinations executing at mid-pt. or better9:30AM - 4:00PM
ALGO-0.0025-0.0025Algo Suite Order Entry9:30AM - 4:00PM
TWAP-0.0025-0.0025TWAP route, will work the order from time of entry to 4:00 PM EST9:30AM - 4:00PM
DKAP-0.004-0.004Dark pool TWAP route, will work the order from time of entry to 4:00 PM EST9:30AM - 4:00PM
TWAP2-0.0025-0.0025TWAP route, will work the order from time of entry for 2 minutes9:30AM - 4:00PM
TWAP5-0.0025-0.0025TWAP route, will work the order from time of entry for 5 minutes9:30AM - 4:00PM
TWAP15-0.0025-0.0025TWAP route, will work the order from time of entry for 15 minutes9:30AM - 4:00PM
TWAP30-0.0025-0.0025TWAP route, will work the order from time of entry for 30 minutes9:30AM - 4:00PM
TWAP60-0.0025-0.0025TWAP route, will work the order from time of entry for 60 minutes9:30AM - 4:00PM

OTCBB

RouteAddingTakingDescriptionTime of Operation (ET)
ARCAE <$1-0.0035-0.0035ARCA Smart router for OTCBB's under $19:30AM - 4:00PM
ARCAE -0.004-0.004ARCA Smart router for OTCBB's over $19:30AM - 4:00PM
SPDRM-0.002-0.002Market maker wheel route for OTCBB's9:30AM - 4:00PM
DBOT-0.001-0.0045DBOT Smart router9:30AM - 4:00PM
CLST -0.002-0.002Market maker route for OTCBB's9:30AM - 4:00PM
OTCX**-0.001-0.0045OTCX router9:30AM - 4:00PM
PUMA-0.002-0.002Market maker route for OTCBB's9:30AM - 4:00PM
OTCP-0.0035-0.0035Wheel route for OTCBB's, includes seeking liquidity in dark pools9:30AM - 4:00PM

Rates are subject to change at any time. Please call the support desk for most up to date pricing (1-844-811-0118).

Adding liquidity for stocks <$1.00 will incur a charge of 0.0005

Route times are Eastern Standard Time

On DAS, all routes above will end in ‘L’ or ‘M.’ Use ‘L’ for Limit orders and ‘M’ for Market orders

Regulatory Fees:

SEC: 0.0000221 (Multiply this amount by the principal amount sold)

FINRA TAF: 0.000119/share $5.95 max. Covers sales of exchange registered securities. Multiply by # of shares sold.

NSCC, DTC Fees: 0.00004/share  (Maximum 0.5% of trade value)

Disclosure:

All routes are directed to other broker dealers for execution. The descriptions listed above are based on information provided to us by these brokers. The smart routers, and logic programmed into the routers that determines order destination, is under full control of the brokers that receive the orders.

**Any stock under $1/share will incur a $0.0045/share routing fee when using the OTCX route.